Hi Experts,
For Financial Year 2014-2015 my bonus is due, which will be paid in the month of April along with monthly salary.
In begining of every financial year we do tax declaration. I want to know whether my bonus will get added to salary received from Apr-14 to Mar-15 and tax will be levied or company will club this bonus as part of FY 15-16 receipt and check if it comes under tax slabs.
Thanks,
Himanshu Sharma
Salary Income is chargeable to tax on ‘DUE OR RECEIPT BASIS WHICHEVER IS EARLIER’
Salary income includes bonus.
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